Henderson v. Croom

OPINION AND ORDER ON PLAINTIFFS’ MOTION FOR PARTIAL SUMMARY JUDGMENT

GUIN, District Judge.

STATEMENT OF CASE

The plaintiffs charge the defendants with a conspiracy to defraud them in connection with the sale of their stock in Coastal United Enterprises, Inc., a Florida corporation (“Coastal”), in violation of the Securities Act of 1934 and Rule 10b-5 adopted pursuant thereto. [15 U.S.C.A. § 78j (b); 17 C.F.R. § 240.10b-5] The Complaint contains six counts. The plaintiffs have filed a Motion for Partial Summary Judgment under Count III. That Count alleges in substance that at the time the…